Platinum Miners Brace for Labor Clash in New Ramaphosa Test
- Miners and unions to start preliminary negotiations this month
- Threat to deregister AMCU raises fears over possible strike
Cyril Ramaphosa
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
When the world’s biggest platinum miners sit down with labor unions this month to negotiate a three-year wage deal, it could prove an early test of Cyril Ramaphosa’s new presidency in South Africa.
An amicable outcome will bolster Ramaphosa -- the former mine union leader and one-time platinum company investor -- as he seeks to lure foreign investors. However, tensions are fraught on both sides and there are fears the labor unions will go on strike, which could send platinum prices soaring.